According to Jelle, Ethereum has completed a successful retest of its 50-day EMA average. The analyst is optimistic that the cryptocurrency’s value may soar to new heights if it manages to break through the $3,700 threshold. The 50-day Exponential Moving Average (EMA) is a crucial tool in technical analysis that can offer insights into possible price fluctuations. Unlike the Simple Moving Average (SMA), the EMA places greater emphasis on recent data, helping to identify trends over the past 50 days and pinpoint potential entry and exit points for traders.
